Every country is conscious of the whole position of the country. For the stability of the country, the economy of the country must be stable on which the whole position of the country depends. It is said that economy of the country has a huge impact on the living standard of the people and different policies of the country as well. The economy planning of the country last for a year as that it is limited tenure. It is not an easy task to do the planning of economy which is only possible for the special economists and the experienced one. Every country has different influential economists which are on the post to design the economy plan of the country for the stability of the country. The country can totally ruin when the economy is not properly planned that is why is has very major impact on the stability and success of the country and are planned with special care and by specialists.
The following are top 10 most famous personalities of economics or economists in the world:
10. Robert Lucas:
Robert Lucas is an American Economist. Robert Lucas is the bane who is known for the development of the theory called the Rational Expectations which gives the explanation of effects of government policy. It is also the best standard ways for the explanation of what are the reason Keynesian policies never work in practical life. He had also received a Nobel memorial prize for Economic Sciences in 1995. He was rated as the one of the most influential economists of a 20th century.
9. Bill Philips:
Bill Philips was an influential economist who belongs to New Zealand. He has given the best contribution by introducing the Philip Curve in 1958. It was a device which shows the growth of prices to the growth of unemployment. This Philip Curve is the most discussed thing in the world which is mostly used for the interest rate policies especially. Some of its further extensions are also available but the original one is still considered as the best and most authentic one.
8. John Hicks:
John Hicks was basically a British economist and is considered as one of the best economist of 20th century. He has given major contributions a to consumer demand theory in microeconomics and some models as well. He was also given a Nobel Memorial prize especially for his contributions to Economic Sciences. It is said that this economist was taught to think and is very professional one because of his intelligent and thinking mind.
7. John Kenneth Galbraith:
John Kenneth Galbraith was a Canadian Economist. He has written many different books related to economy issues and different theories related to them. He was much influenced person during his time period. The main focus of his work was about price controls, inflation and wage. His books are not boring but are entertaining which are loved by the people to read on different economy issues.
6. Paul Samuelson:
Paul Samuelson was an American economist and also won the 1st American to win the Nobel Memorial Prize especially in Economic Sciences. He was also a successful author of the Economist writer. The main studies are related to the mathematical ability. All the books written by him are totally given the title of Economics which depict his professional perfectly. He is included twice on the list of best and influential economists of the world.
5. Arthur Pigou:
Arthur Pigou was basically an English economist who was also a best teacher. He has provided major contributions towards different field of economics and especially welfare economics. The welfare economics concepts provide the main framework with all the harmful side effects related to the production process. Also the solutions of different problems which are related to his original work based on economics.
4. Milton Friedman:
Milton Friedman was a famous and influential America economist who has also received Nobel Memorial Prize in Economic Sciences. He was named as the most important advocate of the free markets in 20th century. He also has provided the focus of government towards the Keynesian policies and balanced budgets. He was considered as the best economist of the post-war period.
3. Ludwig Von Mises:
Ludwig Von Mises was a professional person of Austrian School economist. He was more famous for his work related to praxeology and action. He has also given different socialist dogmas in 20th century. He did his work for almost till the age of 80 years and was best in his own way of designing the best policies for the country to keep it stabilize.
2. Friedrich Von Hayek:
Friedrich Von was a British and Austrian economist and most famous for his classical liberalism. He was considered as the major theorist and philosopher of a 20thh century. He was the economist of the nations who love to live under communism. He has also done much work on the political freedom of the country. His name is not much famous in the area of West but working for the free markets.
1. John Maynard Keynes:
John Maynard was an English economist who has given major contributions towards the macroeconomics. He was named as the most influential economists of the world who was very professional and best in his field. He has also given the General theory in 1936. He is the major economist of the 20th century, and new best economist can only come in the next century because his work is quite famous and authentic now.
Most Famous Economists Ever – Top Ten List
|1||John Maynard keynes||5 June 1883||21 April 1946|
|2||Friedrich Von Hayek||8 May 1899||23 March 1992|
|3||Ludwig Von Mises||29 September 1881||10 October 1973|
|4||Milton Friedman||31 July 1912||16 November 2006|
|5||Arthur Pigou||18 November 1877||7 March 1959|
|6||Paul Samuelson||15 May 1915||13 December 2009|
|7||John Kenneth Galbraith||15 October 1908||29 April 2006|
|8||John Hicks||8 April 1904||20 May 1989|
|9||Bill Phillips||23 September 1964||Alive|
|10||Robert Lucas||15 September 1937||Alive|
Economist plays the most important part in the stability and prosperity of the country. An economy of the country needs perfect planning by the professionals to conduct it perfectly. All these economists have done best, and work, and their contributions to the field of economics cannot be avoided. They have given theories and perfect answers to different big questions.